Homework Answers
2019
1) inventory turnover = cost of goods sold / average inventory
= 2,102,480 / 375,483
= 5.60 times
2) current ratio = current assets / current liabilities
= 1,158,800 / 475,402
= 2.44
3) quick ratio = current assets - inventory / current liabilities
= 1,158,800 - 349,452 / 475,402
= 1.70
4) cash flow ratio = cash flow from operation / current liabilities
= 593,171 / 475,402
= 1.25
2018
1) inventory turnover = cost of goods sold / average inventory
= 1,992,471 / 359,861
= 5.54 times
2) current ratio = current assets / current liabilities
= 1,321,488 / 456,401
= 2.90
3) quick ratio = current assets - inventory / current liabilities
= 1,321,488 - 401,514 / 456,401
= 2.01
4) cash flow ratio = cash flow from operation / current liabilities
= 508,817 / 456,401
= 1.11
Add Answer to:
Check The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed...
The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form,...
The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form, plus some information from the cash flow statement. Balance Sheet 2019 2018 2017 Cash and short-term investments $ 645,992 $ 760,044 $ 749,693 Accounts receivable 47,821 41,810 39,721 Inventory 347,452 397,514 316,208 Other current assets 115,535 118,120 98,788 Total current assets 1,156,800 1,317,488 1,204,410 Long-lived assets 575,332 624,982 571,302 Total assets $ 1,732,132 $ 1,942,470 $ 1,775,712 Current liabilities $ 470,402 $ 450,401 $...
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for...
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) Net sales $ 27,580 Costs 17,582 Depreciation 1,415 Earnings before interest and taxes (EBIT) $ 8,583 Interest expense 530 Pretax income 8,053 Federal plus other taxes 2,819 Net income $ 5,234 201 2019 2018 $ $ - 3,416 3,416 $ 406 3,156 $ 3,562 Assets Current assets Cash and marketable securities Receivables...
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for...
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) $ 27,573 Net sales Costs 17,575 Depreciation Earnings before interest and taxes (EBIT) 1,408 $ 8,590 Interest expense 523 8,067 2,823 Pretax income Federal plus other taxes $ 5,244 Net income BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) Liabilities and Shareholders' Equity 2019 Assets 2019 2018 2018 Current...
Compute and Interpret Liquidity, Solvency and Coverage Ratios Information from the balance sheet, income statement, and...
Compute and Interpret Liquidity, Solvency and Coverage Ratios Information from the balance sheet, income statement, and statement of cash flows for Nike follows. Refer to these financial statements to answer the requirements. NIKE, INC. Consolidated Statements of Income Year Ended December 31 (In millions) 2019 2018 Revenues $39,117 $36,397 Cost of sales 21,643 20,441 Gross profit 17,474 15,956 Demand creation expense 3,753 3,577 Operating overhead expense 8,949 7,934 Total selling and administrative expense 12,702 11,511 Interest expense (income), net 49...
Income statement and balance sheet data for The Athletic ttic are provided below. E ATHLETIC ATTIC...
Income statement and balance sheet data for The Athletic ttic are provided below. E ATHLETIC ATTIC Income Statements For the years ended December 31 2019 2018 Net sales Cost of goods sold $10,400,000 $8,900,000 6,800,000 5,450,000 Gross profit 3,600,0003,450,000 Expenses: Operating expenses Depreciation expense Interest expense Income tax expense 1,600,000 200,000 40,000 400,000 1,600,000 210,000 50,000 360,000 Total expenses 2.240,000 2,220,000 Net Income $1,360,000$1230,000 THE ATHLETIC ATTIC Balance Sheets December 31 2019 2018 2017 Assets Current assets: Cash Accounts receivable...
Use the information from the Income Statement and Balance Sheet to construct the ratios and answer...
Use the information from the Income Statement and Balance Sheet to construct the ratios and answer the questions below. Downloadable Financial statements HW 4 SXP 19.docxPreview the document hw3 ratios.jpg Barry Computers Income statement DEC 31, 2016 Sales 1,607,500 GOGS 1,392,500 Gross Profit 215,000 SG&A 145,000 EBIT 70,000 Interest Expenses 24,500 EBT 45,500 TX (40%) 18,200 NI 27,300 Barry Computers Balance Sheet DEC 31, 2016 Cash 77,500 Accounts Payable 129,000 Accounts receivables 336,000 Accruals 117,000 Inventory 241,500 Notes Payable 84,000...
Biblio... Saved Williams Company is a manufacturer of auto parts having the following financial statements for 2018-2019 Balance Sheet December 31 2819 2018 Cash $ 270,000 145,000 160,866 395,0...
Biblio... Saved Williams Company is a manufacturer of auto parts having the following financial statements for 2018-2019 Balance Sheet December 31 2819 2018 Cash $ 270,000 145,000 160,866 395,000 Accounts receivable 235,008 185,006 Inventory Total current assets $ 825,000 565,000 1,748,901,600,e89 $2,565,0e0 $2,165,0e0 Long-lived assets Total assets Current liabilities 275,000 900,000 990,00 320,000 900,000 1,345,009 Long-term debt Shareholders' equity $2,565,000 $2,165,000 Total debt and equity Income Statement For the years ended December 31 2019 2018 $3,600,000 $3,700,000 2,700,000 2,800,000 900,000...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash $ 29,200 $16,100 $ 18,100 Accounts receivable (net) 50,400 45,600 48,100 Other current assets 90,700 94,900 63,200 Investments 54,700 70,400 45,100 Plant and equipment (net) 499,800 $724,800 370,600 $597,600 358,700 $533,200 $69,600 50,500 Current liabilities $84,900 $80,800 Long-term debt 145,100 85,700 Common stock, $10 par Retained earnings 315,000 179,800 $724,800 319,000 112,100 $597,600 301,000 112,100 $533,200 Jergan...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash $ 30,100 $ 17,500 $ 18,100 Accounts receivable (net) 49,000 45,400 47,100 Other current assets 89,500 95,400 64,400 Investments 54,400 70,300 45,700 Plant and equipment (net) 499,200 370,100 357,100 $722,200 $598,700 $532,400 Current liabilities $84,400 $80,300 $69,100 Long-term debt 144,500 86,000 50,100 Common stock, $10 par 321,000 317,000 297,000 Retained earnings 172,300 115,400 116,200 $722,200 $598,700 $532,400...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2019 2020 2018 $29,100 $17,400 $17,800 Cash Accounts receivable (net) 50,000 44,700 47,500 Other current assets 90,100 95,700 63,500 Investments 70,600 44,000 54,500 Plant and equipment (net) 500,500 370,700 358,200 $724,200 $599,100 $531,000 Current liabilities $85,000 $80,500 $69,100 144,900 Long-term debt 84,200 49,500 Common stock, $10 par 342,000 311,000 299,000 Retained earnings 152,300 123,400 113,400 $724,200 $599,100 $531,000 Jergan Corporation Income...
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) Net sales $ 27,580 Costs 17,582 Depreciation 1,415 Earnings before interest and taxes (EBIT) $ 8,583 Interest expense 530 Pretax income 8,053 Federal plus other taxes 2,819 Net income $ 5,234 201 2019 2018 $ $ - 3,416 3,416 $ 406 3,156 $ 3,562 Assets Current assets Cash and marketable securities Receivables...
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) $ 27,573 Net sales Costs 17,575 Depreciation Earnings before interest and taxes (EBIT) 1,408 $ 8,590 Interest expense 523 8,067 2,823 Pretax income Federal plus other taxes $ 5,244 Net income BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) Liabilities and Shareholders' Equity 2019 Assets 2019 2018 2018 Current...
Compute and Interpret Liquidity, Solvency and Coverage Ratios Information from the balance sheet, income statement, and statement of cash flows for Nike follows. Refer to these financial statements to answer the requirements. NIKE, INC. Consolidated Statements of Income Year Ended December 31 (In millions) 2019 2018 Revenues $39,117 $36,397 Cost of sales 21,643 20,441 Gross profit 17,474 15,956 Demand creation expense 3,753 3,577 Operating overhead expense 8,949 7,934 Total selling and administrative expense 12,702 11,511 Interest expense (income), net 49...
Income statement and balance sheet data for The Athletic ttic are provided below. E ATHLETIC ATTIC Income Statements For the years ended December 31 2019 2018 Net sales Cost of goods sold $10,400,000 $8,900,000 6,800,000 5,450,000 Gross profit 3,600,0003,450,000 Expenses: Operating expenses Depreciation expense Interest expense Income tax expense 1,600,000 200,000 40,000 400,000 1,600,000 210,000 50,000 360,000 Total expenses 2.240,000 2,220,000 Net Income $1,360,000$1230,000 THE ATHLETIC ATTIC Balance Sheets December 31 2019 2018 2017 Assets Current assets: Cash Accounts receivable...
Biblio... Saved Williams Company is a manufacturer of auto parts having the following financial statements for 2018-2019 Balance Sheet December 31 2819 2018 Cash $ 270,000 145,000 160,866 395,000 Accounts receivable 235,008 185,006 Inventory Total current assets $ 825,000 565,000 1,748,901,600,e89 $2,565,0e0 $2,165,0e0 Long-lived assets Total assets Current liabilities 275,000 900,000 990,00 320,000 900,000 1,345,009 Long-term debt Shareholders' equity $2,565,000 $2,165,000 Total debt and equity Income Statement For the years ended December 31 2019 2018 $3,600,000 $3,700,000 2,700,000 2,800,000 900,000...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash $ 29,200 $16,100 $ 18,100 Accounts receivable (net) 50,400 45,600 48,100 Other current assets 90,700 94,900 63,200 Investments 54,700 70,400 45,100 Plant and equipment (net) 499,800 $724,800 370,600 $597,600 358,700 $533,200 $69,600 50,500 Current liabilities $84,900 $80,800 Long-term debt 145,100 85,700 Common stock, $10 par Retained earnings 315,000 179,800 $724,800 319,000 112,100 $597,600 301,000 112,100 $533,200 Jergan...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2019 2020 2018 $29,100 $17,400 $17,800 Cash Accounts receivable (net) 50,000 44,700 47,500 Other current assets 90,100 95,700 63,500 Investments 70,600 44,000 54,500 Plant and equipment (net) 500,500 370,700 358,200 $724,200 $599,100 $531,000 Current liabilities $85,000 $80,500 $69,100 144,900 Long-term debt 84,200 49,500 Common stock, $10 par 342,000 311,000 299,000 Retained earnings 152,300 123,400 113,400 $724,200 $599,100 $531,000 Jergan Corporation Income...
Most questions answered within 3 hours.
-
Come up with 2 questions regarding the study for the speaker (NO
QUIZ LIKE QUESTIONS, QUESTIONS...
asked 9 minutes ago -
Test developers use job analysis to establish ________ for
structured interviews.
Group of answer choices
criterion-related...
asked 8 minutes ago -
Calculate the pH change that occurs when you mix the following
with a buffer solution
that...
asked 25 minutes ago -
Combustion of Ethylene: C2H4 + 3 O2 -> 2 CO2 + 2H20
a) If the concentration...
asked 14 minutes ago -
When using a payroll register, Salaries and Wages Expense
equals the current period earnings of employees....
asked 20 minutes ago -
What is the molarity of an HCl solution if 27.9 mL of 0.14 M
NaOH are...
asked 35 minutes ago -
A demand function given by: Q = 300 ‒ 2P. What is the price
elasticity of...
asked 42 minutes ago -
in a period of rising prices, which of the following inventory
methods results in the lowest...
asked 42 minutes ago -
A +4.3 microCoulomb charge is 25 cm to the right of a -7.2
microCoulomb charge.
A)...
asked 1 hour ago -
Given that ph refers to a float, write a
statement that compares ph to 7.0 and...
asked 1 hour ago -
PHY 254H
Suppose two masses labelled m1 and m2, are speeding toward each
other at time...
asked 1 hour ago -
Suppose a population is known to be normally distributed with a
mean, μ, equal to 116...
asked 2 hours ago